IndusInd Bank Shares Stabilize Amid RBI Assurance

IndusInd Bank's shares ended higher after the RBI reassured customers of the bank's sound financial health. Despite an accounting discrepancy of Rs 2,100 crore, the bank remains well-capitalized. The board has been directed to complete remedial actions within the current month.

Shares of IndusInd Bank rose nearly 1% on Monday following the Reserve Bank of India's (RBI) assurance about the lender's financial health. This comes amidst an ongoing issue involving a Rs 2,100 crore accounting discrepancy.

The stock saw a rally during trading hours, reaching Rs 707.75 on the BSE. By the end of the day, shares settled at Rs 676.95, marking a 0.72% increase. On the NSE, the stock climbed 5.58% to Rs 709.90 before closing at Rs 676.15.

Last week, the bank revealed an accounting discrepancy affecting 2.35% of its net worth, prompting price corrections. The RBI stated that an external audit team is reviewing the situation, and the board is urged to resolve the matter swiftly within the current quarter.

(With inputs from agencies.)